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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Oak Hldgs | LSE:OAH | London | Ordinary Share | GB00B1XLNB88 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.20 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMOAH
RNS Number : 6256C
Oak Holdings PLC
09 March 2011
9 March 2011
Oak Holdings plc
Board change and update
The Board of Oak Holdings plc (the "Company" or "Oak") announces that, Steve Lewis has resigned as Chief Executive of the Company and as a Director of the Company and of its subsidiaries with immediate effect. Steve was the originator and leader of the YES! Project concept which has ended following the disappointing termination of the Development Agreement for the project as announced on 24 January 2011. Following this termination, Steve considered that his skills could no longer be effectively deployed by Oak. Steve has agreed that he will make himself available to Oak to progress property consultancy and other suitable projects as appropriate on terms to be agreed.
It has been agreed with Steve that, in respect of approximately GBP125,000 owed to him by the Company, this amount will be satisfied in due course by the issue to him of new ordinary shares in the Company. Such issue will be made if and when new funds are injected into the Company pursuant to discussions with a third party referred to below. The terms of any share issue to Mr Lewis will be similar to the terms of such placing, failing which the terms will be established through a later negotiation. As this agreement is between the Company and a director, it is a related party transaction with the meaning of the AIM Rule 13. The directors of the Company (excluding Steve Lewis) consider, having consulted with the Company's Nominated Adviser, Cairn Financial Partners LLP, that the terms of the transaction are fair and reasonable insofar as the shareholders of the Company are concerned.
Oak continues to be in discussions with a third party with a view to agreeing terms for an injection of funds into the Company and continues to explore other options including the acquisition for shares of a new business or assets. Shareholders will be further updated in due course.
Enquiries
Oak Holdings plc
Mike Woodcock
Chairman
Tel: 020 7493 5522
Nominated Adviser to Oak Holdings plc
Cairn Financial Advisers LLP
Tony Rawlinson
Tel: 020 7148 7900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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